Uday Kotak, the billionaire founder of Kotak Mahindra Bank Ltd, said: "My advice to both private-sector banks and non-bank financial companies is: make yourself stronger, fortress your balance sheets."
MUMBAI: India should prepare to inject capital into state banks and private-sector lenders need to strengthen their balance sheets, to help bolster the economy against the coronavirus pandemic, according to a senior banker.
"I do believe the government will have to be ready to support public sector banks with capital, ” said Uday Kotak, the billionaire founder of Kotak Mahindra Bank Ltd.
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